Day 1 - Tuesday, October 6, 2020


9:30 am
VIRTUAL LOUNGE OPEN FOR NETWORKING 

10:00 am
INTRODUCTION OF FORUM CHAIR

Laurence Vincent

Laurence Vincent, Copresident, Prével 

OPENING REMARKS

Forum Chair:
Roger Plamondon
, President, Real Estate, Broccolini  


10:12 am
NORTH AMERICAN ECONOMIC OUTLOOK, HOW DOES MONTRÉAL COMPARE TO OTHER MARKETS

Spencer Levy is the chief spokesman on real estate matters for CBRE in the Americas. He will continue to keep us updated through 2020-21 with his examination of North American economic fundamentals and their implications on the real estate market. His discussions will include COVID-19 impacts, immigration plans, unemployment numbers and population growth. 

Speaker:
Spencer Levy
, Chairman Americas, Research and Senior Economic Advisor, CBRE Limited


11:07 am
THE ALTUS REVIEW

HOW HOT IS THE MONTRÉAL REAL ESTATE MARKET PERFORMING FROM A LEASING AND
INVESTMENT PERSPECTIVE?

An overview of the performance of the office, industrial, retail, and multi-unit residential markets in Montréal over the past twelve months. Where are vacancy rates and cap rates trending at this time? Can the Montréal market absorb new space? What are the major demographic, capital, and investment factors influencing the market? What is the outlook for the last quarter of 2020 and beyond?

Speaker:
Marie-France Benoit
, Senior Director, Strategic Development, Data Solutions, Altus Group


11:45 am
VIRTUAL LOUNGE 20 MINUTES HOSTED BY SPECIAL GUEST

11:50 am
CONCURRENT SESSIONS (SELECT A1, A2 or A3)

SESSION A1:
THE STRENGTH OF THE MONTRÉAL OFFICE MARKET: OVER ONE MILLION IN ABSORPTION LAST YEAR WITH VACANCY RATES DECREASING SINCE 2018 

With more than 90 million sq.ft. of space, the Montréal office market’s absorption of new space has been significantly greater than some anticipated exceeding 1 million sq.ft. last year. Coupled with this, vacancy rates downtown dropped for seven consecutive quarters, now being below 9%. What were the major reasons for this trend? With more new developments opened or nearing completion, there appear to be no challenges to fill this space. Coworking office environments have also been surging in popularity. The result is a range of business models and solutions provided by a number of players and the evolution of the concept of WorkPlace-as-a-Service (WaaS). What are the landlord and tenant decision drivers and responses to the demand for this space, its amenitization, and implications for leasing? 

Moderator:
Catherine Vourakis
, Director, Leasing, Manulife Real Estate

Panel:

Nick Ceravolo, Director, Leasing, Groupe Petra
Erik Langburt, Executive Vice President, Cushman & Wakefield
André Plourde, Senior Vice President, Colliers International
Dominique Saucier, Senior Director, Leasing, BentallGreenOak


SESSION A2:
DEBT AND EQUITY FINANCING: WITH NO SHORTAGE OF CAPITAL, IS CREDIT GETTING TIGHTER? HOW ARE VALUATIONS AFFECTING TRANSACTIONS?

A panel discussion will examine the debt market and what borrowers can expect for the remainder of 2020 and beyond. This will include comparative insights from a cross-section of lenders including Schedule A banks, large pension funds, lifecos, mortgage investment corporations and other alternatives. To what extent are their priorities, underwriting and strategies varying at this time as a result of a rising interest rate environment coupled with some overall uncertainty? How are they assessing a transaction and pricing it in this market? To what extent are rising bond yields affecting spreads? Is equity financing in high demand and, if so, why? Case studies of actual transactions including smaller projects will be examined during the session. 

Moderator:
Heather Kirk
, Senior Vice President & Chief Financial Officer, Selection Group

Panel:
Nick Bakish
, Relationship Manager, Richardson GMP
Daniel Brosseau, Assistant Vice President & Regional Director, Manulife
Nektarios Diamantopoulos, Vice President and Managing Director, Eastern Canada, CMLS Capital
Marc-André Louiseize, Executive Director, Mortgage Investments, KingSett Capital
Andrée Roy, Vice President, Real Estate Lending, Otéra Capital


SESSION A3:
AN UPDATE ON THE ROBUST MULTI-RESIDENTIAL MARKET:  CONDOMINIUMS, RENTAL APARTMENTS, SENIORS AND STUDENT HOUSING

The session will bring some clarity to major elements of the rental and higher density housing markets in Montréal. How are the condominium and rental housing markets performing? There has been a dramatic year-to-year decline in the vacancy rate both on the island and in offshore communities. It has dropped to below 1.5% - the lowest it has been since 2005. The medium monthly rent in Montréal was $1,455 in January 2020, a 38% year-over-year increase. With prices rising by more than 5%, the demand for condominium development is continuing throughout 2020 and likely beyond. Forecasts suggest that rental and ownership demand will remain strong for at least the next two years. How much new purpose-built rental apartments is on the horizon? What are the opportunities in related niche rental markets, e.g. seniors housing, student housing? To what extent is multi-unit residential transforming the inner-city areas of Montréal?

Moderator:
Vincent Shirley,
Senior Director,Innovation & Growth Strategy, Real Estate Development, Altus Group

Panel:
François Gagnon,
Real Estate Broker,PMML
Annie Lemieux, President, LSR GESDEV
Irene Peng, Vice President, Corporate Affairs, Brivia Group
Sam Scalia, President, Devmont


12:35 pm
VIRTUAL LOUNGE 20 MINUTES HOSTED BY SPECIAL GUEST

12:45 pm
CONCURRENT SESSIONS (SELECT B1, B2 or B3)

SESSION B1:
TECHNOLOGICAL DISRUPTION & TRANSFORMATION: IMPLICATIONS FOR THE REAL ESTATE MARKET LEADING TO INNOVATIVE STRATEGIES

PropTech hits warp speed as Real Estate has been slow to introduce significant technological changes, but the impact of Coronavirus has made it a necessity.

COVID-19 has fundamentally changed what is essential and what is nice to have in the commercial property sector. PropTech is now an essential tool. The Global Financial Crisis has been credited with accelerating FinTech and transforming the previously stagnant financial sector. Now COVID-19 is set to do the same with PropTech in commercial real estate, and the effects will be even more far reaching. One of the advantages of coming after FinTech is that lessons have been learnt about not being seduced by buzzwords and superfluous solutions. This session will examine what are the strategies some of the big owner are adopting.

Moderator:
Jenny-Kate Sgarbi,
 Commercial Real Estate Consultant 

Panel:
Julia Arlt,
Global Digital Real Estate Leader, PwC Vienna
Linda Isaacson, Managing Director, Global Head of Innovation & Technology, Ferguson Partners Ltd.
François Lacoursière, Senior Vice President, Innovation, Ivanhoé Cambridge
Quentin Nahum, Senior Manager, Portfolio Strategy and Management, PSP Investments


SESSION B2:
IS MONTRÉAL RUNNING OUT OF INDUSTRIAL REAL ESTATE? WHY IS IT OUTPERFORMING MOST EXPECTATIONS?  WHAT LIES AHEAD? 

The industrial market has been on an accelerated and major comeback trail for the past four years. Notwithstanding absorption of 4 million sq.ft. in 2019, the vacancy rate still declined to 2.6%. The strong appetite for industrial sites, coupled with low availability, remain concerns for space users. The upward pressure on asking rents resulted in a 15% annual increase and a 25% increase compared to the first quarter of 2019. On the renewal side, this rental rate pressure is impacting the market and is acting as a constraint on many companies who are looking to relocate in order to remain lucrative. The arrival of influential e-commerce and distribution centres are bringing new standards to the industry and forcing older buildings to be repositioned to remain competitive with mixed-use purposes. Two significant customer fulfillment centres will be delivered in 2020 and 2021 for Amazon and Sobeys respectively.

Moderator:
Paul-Éric Poitras,
Managing Partner, NAI Terramont

Panel :
Steven Bouffard,
Executive Director, Leasing, Office & Industrial, Cominar REIT
Charlie Deeks, Chief Investment Officer, PIRET
Valerie Khalemska,
Senior Account Manager, Drone Delivery Canada
Sam Tsoumas,
Partner, RoseFellow


SESSION B3:
WHAT IS THE DATA TELLING US?

Many real estate firms have long made decisions based on a combination of intuition and traditional, retrospective data. Today, a host of new variables make it possible to paint more vivid pictures of a location’s future risks and opportunities. An In dept look at some of the data that property owners have collected over the past few months, what can we understand from this? Can we see a back to work trends? What conclusions can we make with this precious data? How can it help us with the next pandemic?

Moderator:
Sheila Botting,
 President, Americas Professional Services, Avison Young

Panel:
Steven Pacifico,
Director, Sustainability & Innovation, Epic Investment Services
E.Y Park, Director, Director, Data Platform Capabilities & Engineering, Oxford Properties Group
John Sikaitis, Chief Innovation Officer, Avison Young
Raymond Wong, Vice President, Data Operations, Altus Group

1:40 pm
ADJOURNMENT
1:45 pm
VIRTUAL LOUNGE – OPEN DISCUSSION ON THE DAY